(Arnolds Park)– For the first time in years, the Arnolds Park Amusement Park will end the season in the black.
That was the message at Friday’s meeting of the Iowa Great Lakes Maritime Museum Board of Directors.
Lisa Seiler who oversees the park’s finances, reported that through August 31st, expenses were down by 258-thousand dollars compared to the same time a year ago. Operating income, however, was down slightly, but expenses were down even more so, meaning the park is 211-thousand dollars better off this year than a year ago.
Board members say the performance could have been even better had it not been for the abnormally cool summer and adverse weather Labor Day weekend.
Fred Dowden, who chairs the board’s budget and finance committee, says the financial outcome was so good they were able to pay off a 100-thousand dollar operating loan that was taken out at the beginning of the season.
And board member Bob Schneider says the positive performance and donations will make it possible to pay off an additional 90-thousand dollars in outstanding debt by October 1st. By doing that, Schneider said they’ll be able to meet an incentive from bankers that will make it possible to save some 40-thousand dollars in interest.
Schneider added he’s very optimistic the park’s entire debt could be erased by December, 2005, saying there’s a possibility of two major donors helping make that happen.
An update was given Friday on efforts to pave the amusement park parking lots to meet a mandate from the city of Arnolds Park. It was reported that the Maritime Museum and the original engineering firm on the project have parted ways, after about 50-thousand dollars was spent with the firm on plans, which the museum now has.
Board member Mike Zenor, who heads the Real Property Committee, said the board remains committed to incorporating environmentally friendly components in the parking lot, adding they will be built as finances allow.
The board approved a proposal from Rohlin Construction to pave the parking lots with four inches of blacktop at a cost of 173,926-dollars–much lower than the 500-thousand dollars that had been projected earlier. The motion was approved subject to getting the okay from bankers and that long-term finances are favorable for the project.
